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How often do you change your prices? Is it seasonal or based on your competitors' price changes?

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    How often do you change your prices? Is it seasonal or based on your competitors' price changes?

    as e-commerce retailers, how do you approach these two different strategies? Which one do you think is more effective?

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    I change mine based on sales. I don't try to be the lowest price. I try to be the one that adds the most additional value to a product. That way I don't have to get into price wars with competitors.

    I never change seasonally.

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    Well, it is depends on your sale. But you have the choice if you change it by season, people always find a promo price that is convenient and worth.

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    Quote Originally Posted by tropicalpet View Post
    as e-commerce retailers, how do you approach these two different strategies? Which one do you think is more effective?
    I will go with Rob Whisonant's answer but if you are seeing your competitions with their prices are set there, it can be a good source for references to change your prices on your site.

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    It depends. I mean according to my opinion quality is more important than price. If you are giving the quality which meets your customer's expectation then it's fine. I don't think someone going to give negative feedback for that. Yes, we do change the price in festival's/occasions to attract the customer's to sustain in this competitive business world.

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    Quote Originally Posted by Rob Whisonant View Post
    I change mine based on sales. I don't try to be the lowest price. I try to be the one that adds the most additional value to a product. That way I don't have to get into price wars with competitors.

    I never change seasonally.
    This is the best you can do, and that is why it is important to track everything in your store, so you can have enough data to analyze and come to your own conclusions on many aspects, and one of them is changing your prices.

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    Quality and Product service are more Important than price, But in this time its very hard to win a competition war, so if you are selling same products with same brands You have to Check and Change Prices Regularly.

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